Arvinas’ (ARVN) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Arvinas (NASDAQ:ARVNGet Rating)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a note issued to investors on Wednesday, PriceTargets.com reports. Cantor Fitzgerald also issued estimates for Arvinas’ FY2022 earnings at ($4.84) EPS and FY2023 earnings at ($6.19) EPS.

Several other analysts also recently weighed in on the stock. Credit Suisse Group dropped their target price on shares of Arvinas from $98.00 to $78.00 and set an “outperform” rating for the company in a report on Friday, August 5th. The Goldman Sachs Group dropped their price target on shares of Arvinas from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, May 24th. SVB Leerink lowered their target price on shares of Arvinas from $91.00 to $89.00 and set an “outperform” rating for the company in a research note on Friday, August 5th. Barclays assumed coverage on shares of Arvinas in a research note on Friday, September 9th. They set an “overweight” rating and a $90.00 target price for the company. Finally, HC Wainwright lowered their target price on shares of Arvinas from $135.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.13.

Arvinas Stock Performance

ARVN stock opened at $42.93 on Wednesday. The firm has a market cap of $2.28 billion, a PE ratio of -9.63 and a beta of 2.06. The firm’s 50 day moving average price is $48.96 and its 200-day moving average price is $51.73. Arvinas has a one year low of $34.90 and a one year high of $97.33.

Arvinas (NASDAQ:ARVNGet Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.30). The firm had revenue of $31.30 million for the quarter, compared to analysts’ expectations of $23.71 million. Arvinas had a negative net margin of 255.97% and a negative return on equity of 31.16%. The firm’s quarterly revenue was up 469.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.03) EPS. Equities research analysts predict that Arvinas will post -4.73 EPS for the current fiscal year.

Insider Activity

In other news, insider Ronald Peck sold 1,258 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $68.99, for a total value of $86,789.42. Following the sale, the insider now directly owns 8,154 shares in the company, valued at $562,544.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.78% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Institutional investors and hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC purchased a new position in shares of Arvinas during the first quarter valued at approximately $57,000. Amundi purchased a new position in Arvinas during the second quarter worth approximately $62,000. SeaCrest Wealth Management LLC purchased a new position in Arvinas during the second quarter worth approximately $57,000. Federated Hermes Inc. raised its stake in Arvinas by 80,650.0% during the second quarter. Federated Hermes Inc. now owns 1,615 shares of the company’s stock worth $68,000 after purchasing an additional 1,613 shares during the period. Finally, Virtus ETF Advisers LLC raised its stake in Arvinas by 22.7% during the second quarter. Virtus ETF Advisers LLC now owns 2,880 shares of the company’s stock worth $121,000 after purchasing an additional 532 shares during the period. Hedge funds and other institutional investors own 91.20% of the company’s stock.

About Arvinas

(Get Rating)

Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.

See Also

Analyst Recommendations for Arvinas (NASDAQ:ARVN)

Receive News & Ratings for Arvinas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arvinas and related companies with MarketBeat.com's FREE daily email newsletter.